June 25, 2024

IoT Microcontroller Market to Expand by 12.9% by 2030

The global IoT microcontroller market size accounted for US$ 5.3 billion in 2021 and is projected to reach around USD 15.8 billion by 2030, growing at a CAGR of 12.9% from 2022 to 2030.

IoT Microcontroller Market Size 2022 To 2030

The market’s main growth drivers are projected to be the rising demand for affordable smart wireless sensor networks and the expansion of internet connectivity in developed nations. Other significant drivers driving the business include the rising IoT connection count and need for low-power, energy-efficient linked items.

IoT Microcontroller Market Key Takeaways:

  • By product, the 32 Bit MCU segment dominated the market with a revenue share of 41% in 2021 and is growing at a CAGR of 13.7% between 2022 to 2030.
  • The 8 Bit MCUs segment is expanding at a registered CAGR of 12.1% during the forecast period.
  • Asia Pacific dominated the market with a revenue share of around 40% in 2021 and is growing at a CAGR of 13.5% over the forecast period.
  • The Europe region accounted revenue share of over 22% in 2021.
  • The wearables segment is expanding at a CAGR of 13.2% from 2022 to 2030.

The growing interconnectedness of machines and personalized intelligent devices, the increase in cloud services and analytics, and the profusion of software integrating partners, distribution networks, and customers contribute to the widespread use of the Internet of things. As the IoT, there is a growing issue about protecting the massive quantity of data collected and communicated by IoT devices. Microcontroller units (MCUs) enable authentication protocols, encryption, and decryption, reducing data security threats. MCUs have fraud detection, code encryption, and stringent security features that keep IoT devices from becoming corrupted. MCUs for IoT applications provide a variety of hardware and system characteristics like low-energy independent peripherals, ultra-low power modes with speedy wake time, and resource profiling and power estimating apps.

Growing Demand for Wearable Devices to Drive the Global IoT Microcontroller Market

Wearables are embedded systems that can be worn as accouterments, embedded in the user’s body, or integrated with clothing. Sensor downsizing and advancements in cutting-edge technologies such as Ai, Deep Learning, and Big Data Analytics enable wearables to be coupled with IoT systems.

Obesity and other lifestyle problems motivate people to engage in various personal fitness exercises and track their progress with wearables. Given that magnitude, weight, energy consumption, longevity, sturdiness, reliability, and convenience of use are among the key factors end-users consider when purchasing wearables, wearable technology is constantly evolving in aspects of ergonomic design, merchandise material, power consumption, memory space, performance characteristics, effectiveness, and user experience. The increased popularity of fitness wearables, especially among youngsters, is projected to promote wearable adoption.

IoT Microcontroller Market Report Summary

The global IoT microcontroller market report provides a Point-by-Point and In-Depth analysis of global market size, regional and country-level market size, market share, segmentation market growth, competitive landscape, sales analysis, opportunities analysis, strategic market growth analysis, the impact of domestic and global market key players, value chain optimization, trade regulations, recent developments, product launches, area marketplace expanding, and technological innovations. The Global IoT microcontroller market study covered in the report spans a forecast period from 2022 to 2030.

The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the IoT microcontroller market across the globe.

A comprehensive estimate on the IoT microcontroller market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of IoT microcontroller during the forecast period. Price point comparison by region with global average price is also considered in the study

Key Highlights:

Reports Coverage: It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide containerized IoT microcontroller market and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.

Market Outline: This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.

Market Production by Region: The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.

Also Read: Automotive Software Market to Expand by +17% by 2030

IoT Microcontroller Market Players

The report includes the profiles of key IoT microcontroller market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information, key development in past five years.

Major companies operating in this area are:

  • Broadcom
  • Espressif Systems (Shanghai) Co., Ltd
  • Holtek Semiconductor Inc.
  • Infineon Technologies
  • Microchip Technology Inc.
  • Nuvoton Technology Corporation
  • NXP Semiconductors
  • Silicon Laboratories
  • STMicroelectronics
  • Texas Instruments Incorporated
  • Renesas Electronics Corporation

Market Segmentation

By Product

  • 8 Bit
  • 16 Bit
  • 32 Bit

By Application

  • Industrial Automation
  • Smart Homes
  • Consumer Electronics
    • Smartphones
    • Wearables
    • Others
  • Others (Smart Utility, Smart Transportation& Logistics, Smart Retail, and other enterprise application)

Regional Segmentation

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us to recognize financial information, the structure of the market participants and industry’s competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to-face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire-based research etc.
  • In order to validate our research findings and analysis, we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Why should you invest in this report?

If you are aiming to enter the global IoT microcontroller market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for IoT microcontroller are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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